Raymond James Financial Services Advisors Inc. Invests $254,000 in Rexford Industrial Realty, Inc. (NYSE:REXR)

Raymond James Financial Services Advisors Inc. purchased a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,529 shares of the real estate investment trust’s stock, valued at approximately $254,000.

A number of other hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in Rexford Industrial Realty by 3.0% in the third quarter. State of Alaska Department of Revenue now owns 123,057 shares of the real estate investment trust’s stock valued at $6,071,000 after buying an additional 3,568 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Rexford Industrial Realty by 237.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,086 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 4,283 shares in the last quarter. Presima Securities ULC grew its holdings in shares of Rexford Industrial Realty by 55.9% during the 3rd quarter. Presima Securities ULC now owns 359,400 shares of the real estate investment trust’s stock valued at $17,736,000 after purchasing an additional 128,800 shares during the last quarter. Spirit of America Management Corp NY increased its position in Rexford Industrial Realty by 15.2% during the 3rd quarter. Spirit of America Management Corp NY now owns 19,000 shares of the real estate investment trust’s stock worth $938,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Rexford Industrial Realty by 23.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 33,602 shares of the real estate investment trust’s stock valued at $1,658,000 after purchasing an additional 6,300 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Insider Transactions at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $43.73 on Wednesday. The stock has a market capitalization of $9.53 billion, a PE ratio of 40.12, a PEG ratio of 1.89 and a beta of 0.86. The business’s 50 day simple moving average is $49.88 and its 200 day simple moving average is $50.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 1.35. Rexford Industrial Realty, Inc. has a one year low of $41.56 and a one year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The firm had revenue of $214.10 million during the quarter, compared to the consensus estimate of $207.39 million. During the same period in the prior year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.33 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.417 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Analysts Set New Price Targets

REXR has been the topic of a number of research reports. Truist Financial decreased their target price on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Robert W. Baird restated a “neutral” rating and set a $61.00 price objective (up previously from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Barclays upped their target price on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Tuesday. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Finally, Wedbush started coverage on Rexford Industrial Realty in a research note on Monday. They issued a “neutral” rating and a $45.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $54.73.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.